Turkish billet prices drifted down over the past week, amid sluggish demand for both domestic and imported material, sources told Metal Bulletin on Thursday March 29.CIS billet suppliers reduced their offers into Turkey to $550-560 per tonne cfr, but sources said that Turkish buyers are not interested in paying any higher than $540 per tonne.Metal...Read More
(IDEX Online) - The Baselworld watch and jewelry show wrapped up its 2018 edition on Tuesday after six days. The show previously lasted eight days. This year's edition also saw a smaller attendance - down to 600+ exhibitors from 1,300 last year and about 1,500 the year before. Baselworld's organizers announced last year that they were planning to reduce the length of...Read More
SHANGHAI, Mar 29 (SMM) –Copper: A stronger US dollar and falling oil prices are likely to keep copper prices under pressure. We expect LME copper to trade at $6,640-6,690/mt today and the SHFE 1805 contract at 49,400-49,900 yuan/mt. Spot discounts are expected at 200-140 yuan/mt.Aluminium: A total of 18,000 lots of short positions were added to SHFE aluminium at the start of the trading...Read More
The US$185 million acquisition will provide access to the mine, as well as associated properties and exploration rights of the multi-deposit complex. The latter includes the two main Nkran and Esaase deposits and nine known satellite deposits.Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Thursday blasted Amazon.com Inc (AMZN.O) with a list of complaints, a day after news website Axios reported that Trump wants to curb the mega retailer’s growing power using federal antitrust laws and led its shares to fall almost 5 percent.“I have stated my concerns with Amazon long before the Election. Unlike others, they pay littl...Read More
The base price assessments for flat and long stainless steel products in Europe remained stable this week amid strong competition between stockholders, sources told Metal Bulletin on Thursday March 29.Metal Bulletin's weekly base price assessment for 2mm, grade-304 cold-rolled (CR) stainless steel sheet was ?,?1,050-1,130 ($1,299-1,397) per tonne delivered in Northern Europe on Thursday, unchanged...Read More
(IDEX Online) - HRD Antwerp has announced the opening of a jewelry grading lab in the Santacruz Electronics Export Processing Zone (SEEPZ) in Mumbai, where manufacturers/exporters are based. "Our customers will have safe, reliable and easy access to our services," said Ravi Chhabria, Managing Director of HRD Antwerp India. "Our laboratory has the know-how and tools to thoroughly analyze je...Read More
One Hot Market Stat to Know Right Now Just over $12 billion in stock has been sold in new U.S. listings this year, up roughly 33% from a year ago according to Bloomberg data. Via TheStreet's @BrianSozzi Market Snapshot Global stocks edge higher Thursday, pulling U.S. equity futures into positive territory, as investors creep back into risk markets on the the final trading day of a volatile...Read More
RAPAPORT... Mountain Province saw $134 million in revenue from the firstyear of operations at its Gahcho Ku?(C) mine, the company said this week. The miner sold 2 million carats at an average price of $70per carat during 2017, and recorded a profit of $13.4 million (CAD 17.2 million). MountainProvince started recovering diamonds from the asset in late 2016 and reachedcommercial production - its ex...Read More
The most important marker right now is the silver to gold ounce ratio.Read More
Larry Johnson, chief executive of Kazera Global (LON:KZG) caught up with Proactive's Andrew Scott to discuss 'encouraging' recent drilling results from boreholes at Lepidolite and Homestead.Johnson also talks through the significance of the permit they've received to draw water from the Orange River for the mine.He says the water clearance is a significant step forward for operator Aftan and a maj...Read More
Cobalt's rise to six-digit territory seems inexorable as the hype around electric vehicle demand for battery materials shows no signs of cooling.Despite a pullback this week, at $95,000 a tonne cobalt is up another 24% in 2018 as it builds on a more than fourfold increase in value from record lows early 2016. Batteries - mainly for cellphones - constitute 55% of cobalt demand at present, but is se...Read More
China's ferrous futures experienced a third morning of gains on Thursday March 29 after big losses toward the end of last week after both the country and the United States announced fresh tariffs against each other's products.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,260 yuan ($518) per tonne, up 42 yuan per tonne May hot-rolled coil: 3,616 yuan per tonne,...Read More
Base metals prices on the London Metal Exchange are for the most part stronger today, Thursday March 29, with prices up by an average of 0.6%. Nickel leads the advance with a 2% rise to $13,300 per tonne, while copper is up by 1% at $6,732 per tonne.Volume has been high with 12,789 lots traded as of 07.56am London time. This morning's strength builds on recent consolidation, with most of the metal...Read More
(Reuters) - Wall Street’s main indexes were set to open higher on Thursday as beaten-down technology stocks posted slim gains in a roller-coaster week for Wall Street.The S&P 500 and the Dow were on track to log their worst quarter in more than two years on concerns over a global trade war and interest rates hikes, as well as a selloff in technology stock’s triggered by Facebook In...Read More
(Kitco News) - Frustration is starting to build among gold investors, but analysts are encouraging them to keep the faith as the market still has potential to break through $1,400 an ounce eventually.While the breakout may not be on the horizon in the short-term, many analysts think that it is only a matter of time and instead of giving up, many analysts see a drop back to the lower end of its cur...Read More
RAPAPORT... Firestone Diamonds recorded its first half-year revenue from the Liqhobongmine in Lesotho, the company said Tuesday. The miner saw sales of $28 million from the recovery of379,716 carats during the six months ending December 31, at an average price of$74 per carat.The company posted a net loss of $1.9 million for the period. "In our first six months of full-scale production at Liqhobon...Read More
Hungarian-born Munk built Barrick up from modest investments in two small mines in Ontario and Quebec in 1983 to a company with operations spanning across the Americas to Saudi Arabia, Zambia, Papua New Guinea, and Australia.Born into a prosperous Jewish family in Budapest in 1927, Munk and his family fled the invading Nazis in 1944 and arrived in Toronto with a single suitcase in 1948, when Peter...Read More
John Deane, chief executive of Chesnara Plc (LON:CSN), discusses with Proactive's Andrew Scott the life and pensions company's 2017 results.Full year profits more than doubled on the back of its acquisition of Legal and General's Dutch insurance unit.Deane says: ''We're really pleased with those numbers but it's not the key metric we look at''.''We look at economic value which represents the value...Read More
Persistently low buying interest in East Asia, inventory pressures in China, and falling nickel prices continued to push down the region's stainless steel market over the past week.Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,090-2,180 per tonne cif East Asian ports for the week ended Wednesday March 28, down $70-80 per tonne from a week earlier. Metal B...Read More